BitMEX Cryptocurrency Exchange Most Comprehensive Guide 2018

BitMEX (stands for Bitcoin Mercantile Exchange) is a cryptocurrency exchange with a 100x leverage on trades. The Hong Kong company was launched in November 2014 by bankers Authur Hayes, Samuel Reed, and Ben Delo. The total amount of all the transactions is $26.5 billion.

To ensure the customer funds safety the company launched multisig deposit and withdrawal addresses schemes. They are hand-checked by the employees and are verified externally to be sure they contain matching keys. If they don't the system shuts down.

Besides, the BitMEX trading engine is similar to the toolset of the major banks and is written in kdb+

All the trading operations on the crypto exchange is under full risk checks protection

There is also an option to turn on PGP encryption on emails

Two-factor authentification

All customers funds are kept in cold storage

The crypto exchange hasn't been hacked

To apply all the mentioned measures, just go to your account settings

How to deposit and withdraw money

To make a deposit click on your account button in the top bar, then select "Deposit" in the drop down menu. You will see a QR code and a text address below the code to make a transfer.

How and where to place an order

Stop Limit — the same as the stop order but you can set the order price

Stop Market order is not seen in the orderbook and takes place when the market reaches the trigger.

Trailing Stop — reminds a Stop Order but the users set trailing value here.

Take Profit Limit — again, reminds a Stop Order, where a user should set a target price on a position to get a gain and not to cut losses

Take Profit Market — the same as to take profit limit, but the market order is triggered.

You can zoom the order section to manage your orders. In the zoomed section you can see the Stops, check the Orders Filled, select Active Orders, cancel any orders and see the history log.

How to leverage a position

To increase the amount of your money you can borrow some from an exchange which is called leveraging. For example, you invested $50 and borrowed another $50 from an exchange. That means you 2x (2:1) leveraged your profit/loss. Read here about the margin trading.

Futures

Usually to make a future contract you should make an agreement on buying or selling an asset in the future at a certain price. On BitMEX you can leverage up 100x the similar contracts.
The fees are the following:

Swaps

Swaps (perpetual swaps) are similar to the futures but they don't have a date of expiration and trade close to the underlying reference Index Price.

Besides the cryptocurrencies for future trading, BitMEX uses the fiats, the most popular of which is, of course, USD.

Binary series (B-series) contracts are prediction futures contracts that can be settled at 0 or 100. B-series is a complicated instrument and is not recommended for beginners. B-series don't have a leverage, a 0% maker fee, a 0.25% taker fee and 0.25% settlement fee.